By Brendan Pierson (Reuters) – Drugmakers GSK Plc, Pfizer Inc, Sanofi SA and Boehringer Ingelheim on Tuesday defeated thousands of U.S. lawsuits claiming that the heartburn drug Zantac caused cancer, as a judge found the claims were not backed by sound science. The ruling by U.S. District Judge Robin Rosenberg in West Palm Beach, Florida,…
Facebook parent Meta Platforms Inc. said Tuesday it will be “forced to consider” removing news content from its platform if Congress passes legislation requiring tech companies to pay news outlets for their material. The Journalism Competition and Preservation Act, if passed, would allow news companies to collectively negotiate with social platforms over the terms on…
THE HAGUE (AP) — Shareholders of dismantled Russian oil company Yukos were low in spirits Tuesday after the top bid in an auction of several iconic vodka brands came up short. Financial holding company GML, which was the majority shareholder in Yukos before the Kremlin dismantled the energy giant in 2003, was hoping to sell…
By David French and Ankika Biswas (Reuters) – Wall Street benchmarks tumbled again on Tuesday, with the S&P 500 on course for a fourth straight decline, as uncertainty around the direction of Federal Reserve rate hikes and further talk of a looming recession weighed on skittish investors. Among the biggest drags on the S&P was…
NEW YORK (AP) — Digital media company BuzzFeed is cutting 12% of its workforce, citing worsening economic conditions. The New York company, which made the announcement in a regulatory filing on Tuesday, did not disclose how many workers it was letting go. According to the data firm FactSet, BuzzFeed has 1,522 employees, which would mean…
By Ismail Shakil OTTAWA (Reuters) – Canada’s exports rose in October, largely driven by pharmaceutical products, while imports were also up, largely as a result of a depreciation of the Canadian dollar, data showed on Tuesday. The country’s trade surplus with the world grew to C$1.21 billion ($888.53 million) in October, Statistics Canada said, slightly…
By Clara Denina and Helen Reid LONDON (Reuters) -London-listed Glencore cut 2023 production guidance across all the commodities it mines, missing consensus estimates and sending its shares sharply lower on Tuesday. The miner and trader expects to produce 1.04 million tonnes of copper next year, down from 1.06 million this year and much lower than…
MILAN (AP) — The Prada fashion house began charting a line of succession on its business side, announcing Tuesday that it is tapping a former LVMH executive as its next CEO and confirming that Miuccia Prada will continue in her creative roles. Andrea Guerra is set to be confirmed by the board next month as…
(Reuters) -AMC Networks said its chief executive officer had stepped down, less than three months after taking over the role, and that it would cut about 20% of its U.S. workforce as it faces industry pressures and a challenging economy. Shares of the cable TV network, home to hit shows such as “Mad Men” and…
By Shashwat Chauhan (Reuters) -Canada’s main stock index fell to near one-week lows on Tuesday, dragged down by technology and cannabis stocks, while investors remained wary ahead of an interest rate decision from the Bank of Canada (BoC) this week. At 10:32 a.m. ET (1532 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down…
